JPMorgan Chase & Co. Lowers Stock Holdings in Federated Hermes, Inc. $FHI

JPMorgan Chase & Co. lowered its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,741 shares of the company’s stock after selling 43,052 shares during the period. JPMorgan Chase & Co. owned about 0.28% of Federated Hermes worth $11,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MAI Capital Management increased its position in shares of Federated Hermes by 86.7% during the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock valued at $25,000 after purchasing an additional 221 shares during the last quarter. GAMMA Investing LLC lifted its position in Federated Hermes by 10.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock worth $131,000 after buying an additional 241 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Federated Hermes by 0.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,934 shares of the company’s stock worth $3,580,000 after buying an additional 272 shares in the last quarter. Cibc World Market Inc. boosted its stake in Federated Hermes by 0.3% in the third quarter. Cibc World Market Inc. now owns 115,930 shares of the company’s stock worth $6,020,000 after buying an additional 331 shares in the last quarter. Finally, Diversified Trust Co grew its position in Federated Hermes by 4.5% during the third quarter. Diversified Trust Co now owns 9,444 shares of the company’s stock valued at $490,000 after acquiring an additional 408 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $56.06 on Friday. The stock has a market capitalization of $4.26 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $57.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.30. The business’s 50 day simple moving average is $55.10 and its two-hundred day simple moving average is $52.66.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.20 by $0.19. The company had revenue of $482.83 million for the quarter, compared to the consensus estimate of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 earnings per share. Analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. Federated Hermes’s dividend payout ratio (DPR) is presently 26.46%.

Insider Activity

In related news, VP Paul A. Uhlman sold 72,392 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $56.23, for a total transaction of $4,070,602.16. Following the transaction, the vice president owned 263,987 shares in the company, valued at $14,843,989.01. The trade was a 21.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FHI has been the topic of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $55.00 price target (up from $54.00) on shares of Federated Hermes in a research note on Tuesday, February 3rd. Zacks Research lowered shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Finally, TD Cowen reissued a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average target price of $55.00.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.